eshrag
11-29-2018, 09:56 PM
Permission granted to spend £60m cash received from sale of HQ
The government has in effect bailed out Tory-run Northamptonshire county council after giving it unprecedented permission (https://www.gov.uk/government/news/first-progress-report-of-commissioners-at-northamptonshire-county-council-published) to spend up to £60m of cash received from the sale of its HQ on funding day-to-day services.
The highly unusual move – accounting rules normally prevent councils using capital receipts in this way – means the crisis-hit authority (https://www.theguardian.com/society/2018/aug/01/northamptonshire-council-forced-pay-price-reckless-half-decade) is likely to escape falling into insolvency for the third time in less than a year.
Continue reading... (https://www.theguardian.com/society/2018/nov/29/tory-run-northamptonshire-county-council-bailed-out-by-government)
The government has in effect bailed out Tory-run Northamptonshire county council after giving it unprecedented permission (https://www.gov.uk/government/news/first-progress-report-of-commissioners-at-northamptonshire-county-council-published) to spend up to £60m of cash received from the sale of its HQ on funding day-to-day services.
The highly unusual move – accounting rules normally prevent councils using capital receipts in this way – means the crisis-hit authority (https://www.theguardian.com/society/2018/aug/01/northamptonshire-council-forced-pay-price-reckless-half-decade) is likely to escape falling into insolvency for the third time in less than a year.
Continue reading... (https://www.theguardian.com/society/2018/nov/29/tory-run-northamptonshire-county-council-bailed-out-by-government)